Bookkeeping Services for Psychiatrists

Bookkeeping and Accounting for Psychiatrists

Searching for a bookkeeper and accountant for your psychiatry practice? We handle your books, so you can devote more time to your patients' mental well-being. Try us for free.

* No Debit/Credit Card Required
Accracy Accounting Online Remote Bookkeeping Services for Psychiatrists
Accracy Accounting QuickBooks Certified ProAdvisor
Accracy Accounting Xero Certified Advisor
Accracy Accounting Gusto Payroll Certiication
Accracy Accounting Fathom Certified Advisor
Accracy Accounting Karbon Certified Expert
Free 1 Month Bokkeeping Trial

New Customer Offer

We are offering free 1 Month Basic Bookkeeping to all new customers so you can experience Accracy's seemless and professional services.

* No Debit/Credit Card Required

How Accracy works with Psychiatrists

Searching for a bookkeeper and accountant for your psychiatry practice? We handle your books, so you can devote more time to your patients' mental well-being. Try us for free.

Accracy Accounting CPA CA Oversight
We get you set up

Our team diligently works to gain a comprehensive understanding of your psychiatry practice, answer any queries you may have, assist you in connecting your accounts, and guide you through how Accracy can work for you.

Accracy Accounting Digital Fluency
We do your bookkeeping

Each month, your dedicated bookkeeper meticulously organizes your psychiatric practice's transactions and prepares comprehensive financial statements. Should they require any further information from you, they won't hesitate to contact you.

Accracy Accounting One-on-one expert support 24/7
We deliver tax-ready financials

Each month, your dedicated bookkeeper meticulously organizes your psychiatric practice's transactions and prepares comprehensive financial statements. Should they require any further information from you, they won't hesitate to contact you.

Here’s why Psychiatrists like you trust Accracy with their bookkeeping and accounting

Get fast, unlimited support for Psychiatrists with Accracy Accounting and Bookkeeping Services

Get fast, unlimited support from our expert advisors

We're always at hand with your financial updates as a psychiatrist. Got critical questions that need immediate answers? We pledge to respond in less than a business day.

Guaranteed accuracy in every detail for Psychiatrists with Accracy Accounting and Bookkeeping Services

Guaranteed accuracy in every detail

With Accracy Accounting, Psychiatrists can conveniently automate data inputs from most leading providers to sidestep prevalent errors. We've formed partnerships with respected merchants such as Gusto, Stripe, Shopify, and Squareensuring your financial data stays precise and up-to-date.

Make Smart Decisions for Psychiatrists with Accracy Accounting and Bookkeeping Services

See where you’re spending. Make smart decisions

Say goodbye to the mountain of patient invoices and time-draining manual financial tracking — we automate entries directly from your linked accounts. Gain essential financial insights from a central dashboard, enabling you to easily comprehend the financial wellbeing of your psychiatry practice and empower you to make key strategic decisions.

Bookkeepers for Psychiatrists

Running a psychiatry practice comes with its own unique financial challenges. From managing patient invoices, tracking medical billings and receipts, budgeting for expensive equipment, to dealing with industry-specific taxes and laws, these are tasks that can become overwhelming for psychiatrists. Accracy understands the complexities involved in financial management for this profession. With our team of expert bookkeepers, we take care of all the time-consuming bookkeeping activities, giving you back those much-needed hours that you can instead devote to your patients and growing your practice.

Our team at Accracy isn't just familiar with accounting — we're knowledgeable about the specific ins and outs of the psychiatry industry. Whether it's understanding the nuances of medical billing codes, meeting the financial record-keeping standards of HIPAA, or being aware of certain tax deductions available to mental health professionals, we have you covered. Also, when tax season comes around, we streamline your tax filing process, ensuring compliance with all the industry-specific tax laws. Leveraging our unique blend of intuitive software and real, human bookkeepers, Accracy has revolutionized bookkeeping and tax for small businesses in the psychiatry sector.

Accracy Pricing

Simple, straightforward bookkeeping pricing for everything your business needs.

Join over 1000 business owners who have streamlined their finances and have grown their businesses with Accracy.

Basic

Starting from
$200 / month billed annually
  • Dedicated Bookkeeping Experts
  • Accurate Books with Year-End Financial Records Ready for Tax Season
  • Automating Your Processes Through QuickBooks, Xero and others
  • Accrual or Cash basis accounting
  • 24/7 Support
  • Unlimited communication with your bookkeeping team
Contact Us

Catch Up Bookkeeping

$500 / Billed Once
  • Accurate Books with Year-End Financial Records Ready for Tax Season
  • Automating Your Processes Through QuickBooks, Xero and others
  • Accrual or Cash basis accounting
  • 24/7 Support
  • Unlimited communication with your bookkeeping team
Contact Us

Executive

Customized Pricing

Everything in Basic plan +

  • Dedicated Account Manager
  • Sales Tax
  • Corporate Tax
  • Payroll
  • Accounts Payable
  • Accounts Receivables
  • Full Support Team
  • + Additional Customized Services

Schedule a Meeting

Basic

Starting from
$250 / month
  • Dedicated Bookkeeping Experts
  • Accurate Books with Year-End Financial Records Ready for Tax Season
  • Automating Your Processes Through QuickBooks, Xero and others
  • Accrual or Cash basis accounting
  • 24/7 Support
  • Unlimited communication with your bookkeeping team
Contact Us

Executive

Customized Pricing

Everything in Basic plan +

  • Dedicated Account Manager
  • Sales Tax
  • Corporate Tax
  • Payroll
  • Accounts Payable
  • Accounts Receivables
  • Full Support Team
  • + Additional Customized Services

Schedule a Meeting

Frequently Asked Questions about Bookkeeping and Accounting for Psychiatrists

As a psychiatrist, you may be eligible to claim a variety of tax deductions on your income. These can include the cost of professional development courses, registration fees, professional association membership fees, home office expenses, work-related books or journals, medical equipment, insurance, cost of outsourcing tasks to other professionals such as bookkeeping or cleaning, and travel expenses if you travel to see patients or attend conferences. However, tax laws can be complex and vary from place to place, so it's always a good idea to consult with a professional bookkeeper or accountant to ensure you're claiming all applicable deductions.

Bookkeeping for a private psychiatry practice can differ from other businesses in a few significant ways. First, healthcare practices like psychiatry often deal with a combination of private pay clients, insurance claims, and potentially government healthcare programs, each having their unique billing procedures. These multi-layered income streams require intricate tracking, documentation, and precise record keeping.

Second, medical practices have to deal with high amounts of confidential patient data. This involves additional layers of record keeping to ensure compliance with privacy laws such as HIPAA in the United States. Any bookkeeping or financial tracking software used would need to have robust security measures in place to protect this sensitive information.

Lastly, psychiatry practices often have additional expenses related to medical supplies, practice insurances, and continuous education requirements that aren't seen in other industries. Accurately categorizing and tracking these expenses is crucial for correct financial reporting and tax preparation.

At Accracy Accounting, our experienced bookkeepers are well-versed in these unique challenges and are equipped to provide tailored bookkeeping services that meet the needs of private psychiatry practices.

There are several key aspects to consider when managing the financials in regards to health insurance billings and reimbursements:

  • Understanding of regulatory requirements: Complying with all relevant federal and state regulations is crucial when dealing with health insurance billing.
  • Accuracy: Errors in billing can lead to significant delays in reimbursements and potentially fines. Proper financial management would involve meticulous record keeping.
  • Time-management: Health insurance billing often involves strict deadlines. Hence, organized financial management is important.
  • Knowledge of health insurance plans: Different plans have different rules regarding reimbursements. This knowledge can help speed up the billing process and ensure maximum reimbursement.
  • Security: Financial information associated with health insurance billings and reimbursements is sensitive, it should be well-protected against potential breaches.

We understand that when our clients turn their accounting and bookkeeping services over to us, trust is paramount. We have a team of certified professionals, use proven technologies, and hold ourselves accountable every day. Yes, you can trust us with your sensitive data and to deliver accurate, timely accounting services for your business.

Absolutely. Our team members are all certified in the leading accounting systems and can quickly get your files up to date.

Don’t worry, your financial data belongs to you. Our offboarding is pretty straightforward as we transfer account ownership to you. As a bonus, there’s no stopping you from replicating the workflows we’ve created for your in-house process – in fact, we encourage it.

Savings can vary considerably depending on your current solution, but our clients tell us that it is generally between 30% and 50%.

We do not provide year-end tax filing services as we are not a CPA firm. However, if you are looking for a year-end tax accountant, we would gladly refer you to one of our partners. Having a separate bookkeeper and year-end accountant ensures additional oversight on the accuracy of your books. Your year-end tax accountant can help you review your books during tax season.

No, we are not a CPA firm. Accracy is not a public accounting firm and does not provide services that would require a license to practice public accountancy.

No. We do not offer services which fall under the jurisdiction of these organizations. We have partner organizations who can provide those services if needed by clients. A good example of such services are tax advisory or statutory filings. We have a number of non-economic partnerships with CPA firms who can help our clients with these services if needed.

Every account is set up with a Client Success Lead who will be your day-to-day contact. They’ll liaise with the rest of the team members on your account which may include an accounting manager, bookkeeper, payroll specialist, and payables specialist.

Accracy can support a wide range of companies, from small businesses and startups to large public corporations. Our services are tailored to meet the unique accounting and bookkeeping needs of businesses across various industries.

At Accracy, we operate as a fully remote team, delivering our bookkeeping and accounting services online. We have the necessary tools and systems in place to work efficiently and securely from our remote locations. We will coordinate and collaborate with your onsite team to ensure smooth communication and workflow integration.

Accracy Accounting Frequently Asked Questions (faq)

Our Services

Your Needs, Our Solutions: Total Coverage Guaranteed

Stress-Free Bookkeeping and Back Office Accounting Solutions for Your Business.

Bookkeeping

Precise Financial Organization

Embark on a transformative journey towards financial clarity with our comprehensive organizational services. Beyond mere bookkeeping, we delve deep into the intricacies of your financial records. Every transaction is meticulously documented, categorized, and structured to provide not just accuracy but a foundation for strategic financial understanding.

Bookkeeping

Financial Reporting

Actionable Financial Insights

Beyond mere numbers, our reporting services are a gateway to actionable insights. We go beyond presenting data; we interpret, analyze, and deliver reports that serve as strategic roadmaps for your business. Timely, clear, and comprehensive, our insights empower you to make informed decisions, identify opportunities, and navigate challenges with confidence.

Financial Reporting

Accounts Payable & Receivable

Efficient Accounts Management

Efficiency is the cornerstone of our accounts management services. Whether handling payables or receivables, we streamline your financial transactions to optimize cash flow. Our focus is on creating a robust system that not only meets compliance standards but also ensures that your financial operations are a well-oiled machine, contributing to the overall health of your business.

Catch-Up Bookkeeping

Timely Financial Updates

Don’t let backlog hinder your progress. Our catch-up services are designed to bring your financial records up to speed. We meticulously address any gaps, ensuring that your records are not just current but also compliant. Stay on top of your financial game with timely updates that provide a comprehensive view of your financial landscape.

Catch-Up Bookkeeping

Fractional Controllership

Strategic Financial Guidance

Experience the benefits of seasoned financial leadership without the full-time commitment. Our fractional controllership services bring in experts to guide your financial strategies. Beyond mere oversight, our professionals actively contribute to optimizing your business performance. Benefit from strategic insights, financial planning, and a level of guidance that propels your business towards sustainable success.

Fractional Controllership

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